Under such schemes, you may get to pay lower EMIs for some time, but the total interest outgo is higher As workplaces reopen as Unlock 1.0 unfolds, people would prefer using their your own car for the office commute to avoid the risk of contact as social distancing becomes the new normal in the wake of covid-19.
In such a situation, a lot of people may need to buy their first cars or even a second car for a working spouse. But given the recent pay cuts, it may not be easy for everyone to afford a regular equated monthly instalment (EMI) against a car loan. “Due to the pandemic, those who are resuming work, want to travel by the vehicle they own instead of taking a public transport or app-based taxis," said Aditya Mishra, founder and CEO,